Form 10-QSB

                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                |X|   Quarterly Report Pursuant to Section 13 or
                                      15(d) of the  Securities  Exchange  Act of
                                      1934.  For  the  quarterly   period  ended
                                      September 30, 1999

                                |_|   Transition  Report  Pursuant to Section 13
                                      or 15(d) of the Securities Exchange Act of
                                      1934.  For  the  transition   period  from
                                      _______ to _______

                        Commission File Number 000-21552

                      ATEL Cash Distribution Fund IV, L.P.
             (Exact name of registrant as specified in its charter)

California                                                           94-3145429
(State or other jurisdiction of                              (I. R. S. Employer
incorporation or organization)                              Identification No.)

           235 Pine Street, 6th Floor, San Francisco, California 94104
                    (Address of principal executive offices)

        Registrant's telephone number, including area code: (415)989-8800


Indicate  by a check  mark  whether  the  registrant  (1) has filed all  reports
required to be filed by section 13 or 15(d) of the  Securities  Exchange  Act of
1934  during  the  preceding  12 months  (or for such  shorter  period  that the
registrant was required to file such reports),  and (2) has been subject to such
filing requirements for the past 90 days.

                                    Yes |X|
                                     No |_|

                       DOCUMENTS INCORPORATED BY REFERENCE

                                      None

<PAGE>

                          Part I FINANCIAL INFORMATION

Item 1. Financial Statements.


<PAGE>

                      ATEL CASH DISTRIBUTION FUND IV, L.P.

                                  BALANCE SHEET

                               SEPTEMBER 30, 1999
                                   (Unaudited)


                                     ASSETS


Cash and cash equivalents                                            $7,859,670

Accounts receivable                                                     185,198

Investment in leases                                                  9,177,825
                                                               -----------------
                                                                   $ 17,222,693
                                                               =================


                        LIABILITIES AND PARTNERS' CAPITAL


Non-recourse debt                                                    $3,021,087
Accounts payable:
   General Partner                                                       56,503
   Other                                                                165,343
Accrued interest                                                         13,463
Unearned operating lease income                                         299,619
                                                               -----------------
Total liabilities                                                     3,556,015

Partners' capital:
     General Partner                                                    185,153
     Limited Partners                                                13,481,525
                                                               -----------------
Total partners' capital                                              13,666,678
                                                               -----------------
                                                                   $ 17,222,693
                                                               =================





                             See accompanying notes.
<PAGE>

                      ATEL CASH DISTRIBUTION FUND IV, L.P.

                                INCOME STATEMENTS

                       NINE AND THREE MONTH PERIODS ENDED
                           SEPTEMBER 30, 1999 AND 1998
                                   (Unaudited)


<TABLE>
<CAPTION>
                                                                  Nine Months Ended                   Three Months Ended
                                                                     September 30,                       September 30,
Revenues:                                                       1999              1998              1999              1998
                                                                ----              ----              ----              ----
Lease revenues:
<S>                                                             <C>              <C>                 <C>               <C>
   Operating                                                    $2,156,039       $ 2,751,484         $ 650,091         $ 845,349
   Direct financing                                                515,961           821,370           159,785           255,571
   Leveraged                                                        80,864           140,614                 -            46,872
   Gain on sales of assets                                       5,423,105           153,476           285,466           105,133
Interest income                                                    138,558            71,424            90,720            11,737
Other                                                               13,303            26,486             1,291            22,393
                                                          ----------------- ----------------- ----------------- -----------------
                                                                 8,327,830         3,964,854         1,187,353         1,287,055
Expenses:
Depreciation and amortization                                    1,328,425         1,762,137           362,705           558,025
Management fees                                                    525,619           366,309           172,466           101,029
Interest                                                           238,336           352,431            64,580           100,691
Administrative cost reimbursements                                 168,992           189,635            68,985            70,550
Other                                                              118,289            75,113           (23,695)           15,885
Professional fees                                                   28,834            25,767             7,875            17,398
Provision for losses                                                     -            13,145                 -                 -
                                                          ----------------- ----------------- ----------------- -----------------
                                                                 2,408,495         2,784,537           652,916           863,578
                                                          ----------------- ----------------- ----------------- -----------------
Net income                                                      $5,919,335       $ 1,180,317         $ 534,437         $ 423,477
                                                          ================= ================= ================= =================
Net income:
     General Partner                                              $ 59,193          $ 11,803           $ 5,344           $ 4,235
     Limited Partners                                            5,860,142         1,168,514           529,093           419,242
                                                          ----------------- ----------------- ----------------- -----------------
                                                                $5,919,335       $ 1,180,317         $ 534,437         $ 423,477
                                                          ================= ================= ================= =================
Net income per Limited Partnership unit                              $0.78             $0.16             $0.07             $0.06
Weighted average number of units outstanding                     7,487,350         7,487,350         7,487,350         7,487,350
</TABLE>

                             See accompanying notes.


<PAGE>

                      ATEL CASH DISTRIBUTION FUND IV, L.P.

                    STATEMENT OF CHANGES IN PARTNERS' CAPITAL

                             NINE MONTH PERIOD ENDED
                               SEPTEMBER 30, 1999
                                   (Unaudited)


<TABLE>
<CAPTION>
                                                   Limited Partners       General
                                       Units             Amount           Partner            Total
<S>                                      <C>            <C>                  <C>            <C>
Balance December 31, 1998                7,487,350      $ 15,484,740         $ 125,960      $ 15,610,700
Distributions to limited partners                         (7,863,357)                -        (7,863,357)
Net income                                                 5,860,142            59,193         5,919,335
                                  ----------------- ----------------- ----------------- -----------------
Balance September 30, 1999               7,487,350      $ 13,481,525         $ 185,153      $ 13,666,678
                                  ================= ================= ================= =================
</TABLE>


                             See accompanying notes.

<PAGE>

                      ATEL CASH DISTRIBUTION FUND IV, L.P.

                            STATEMENTS OF CASH FLOWS

                       NINE AND THREE MONTH PERIODS ENDED
                           SEPTEMBER 30, 1999 AND 1998
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                                  Nine Months Ended                   Three Months Ended
                                                                    September 30,                       September 30,
                                                                    -------------                       -------------
                                                                1999              1998              1999              1998
                                                                ----              ----              ----              ----
Operating activities:
<S>                                                             <C>              <C>                 <C>               <C>
Net income                                                      $5,919,335       $ 1,180,317         $ 534,437         $ 423,477
Adjustments to reconcile net income to
   net cash provided by operations:
     Depreciation and amortization                               1,328,425         1,762,137           362,705           558,025
     Leveraged lease income                                        (80,864)         (140,614)                -           (46,872)
     Gain on sales of assets                                    (5,423,105)         (153,476)         (285,466)         (105,133)
     Provision for losses                                                -            13,145                 -                 -
Changes in operating assets and liabilities:
   Accounts receivable                                             223,550           155,611           120,741            31,454
   Accounts payable, General Partner                              (401,741)              721            10,528           166,211
   Accounts payable, other                                         (51,838)        1,248,094           (34,111)          698,111
   Accrued interest                                                 (6,743)           (8,679)           (2,065)           (8,045)
   Unearned operating lease income                                  36,694          (244,111)          141,753          (189,246)
                                                          ----------------- ----------------- ----------------- -----------------
Net cash from operations                                         1,543,713         3,813,145           848,522         1,527,982
                                                          ----------------- ----------------- ----------------- -----------------

Investing activities:
Reduction of net investment in direct financing
   leases                                                        1,100,207         1,871,948           352,813           592,673
Proceeds from sales of lease assets                             14,320,842           652,642         2,922,992           156,092
                                                          ----------------- ----------------- ----------------- -----------------
Net cash provided by investing activities                       15,421,049         2,524,590         3,275,805           748,765
                                                          ----------------- ----------------- ----------------- -----------------

Financing activities:
Repayment of non-recourse debt                                  (1,613,626)       (1,709,200)         (508,732)         (574,097)
Distributions to limited partners                               (7,863,357)       (7,862,543)       (2,620,945)       (2,620,630)
                                                          ----------------- ----------------- ----------------- -----------------
Net cash used in financing activities                           (9,476,983)       (9,571,743)       (3,129,677)       (3,194,727)
                                                          ----------------- ----------------- ----------------- -----------------
Net increase (decrease) in cash and cash
   equivalents                                                   7,487,779        (3,234,008)          994,650          (917,980)
Cash and cash equivalents at beginning of
   period                                                          371,891         3,990,096         6,865,020         1,674,068
                                                          ================= ================= ================= =================
Cash and cash equivalents at end of period                      $7,859,670         $ 756,088        $7,859,670         $ 756,088
                                                          ================= ================= ================= =================


Supplemental disclosures of cash flow
   information:

Cash paid for interest                                           $ 245,079         $ 361,110          $ 66,645         $ 108,736
                                                          ================= ================= ================= =================
</TABLE>

                             See accompanying notes.

<PAGE>

                      ATEL CASH DISTRIBUTION FUND IV, L.P.

                          NOTES TO FINANCIAL STATEMENTS

                           SEPTEMBER 30, 1999 AND 1998
                                   (Unaudited)


1.  Interim financial statements:

The unaudited interim financial statements reflect all adjustments which are, in
the opinion of the general partners,  necessary to a fair statement of financial
position and results of operations for the interim periods  presented.  All such
adjustments are of a normal recurring nature.  These unaudited interim financial
statements  should be read in  conjunction  with the most recent  report on Form
10K.

2. Investment in leases:

The Partnership's investment in leases consists of the following:

<TABLE>
<CAPTION>
                                                                              Depreciation
                                                                               Expense or         Reclass-
                                                            December 31,      Amortization      ifications &     September 30,
                                                                1998           of Leases        Dispositions          1999
                                                                ----           ---------      - -------------         ----
<S>                                                             <C>              <C>              <C>                 <C>
Net investment in operating leases                              $9,415,647       $(1,190,219)     $ (2,888,802)       $5,336,626
Net investment in direct financing leases                        5,252,294        (1,100,207)         (318,458)        3,833,629
Net investment in leveraged leases                               4,791,326            80,864        (4,872,190)                -
Equipment held for sale or lease                                   964,358                 -          (960,927)            3,431
Residual value interests                                           582,057                 -                 -           582,057
Initial direct costs, net of accumulated
   amortization of $514,804 in 1999 and $934,748
   in 1998                                                         333,647          (138,206)         (121,277)           74,164
Reserve for losses                                                (915,999)                -           263,917          (652,082)
                                                          ----------------- ----------------- ----------------- -----------------
                                                               $20,423,330       $(2,347,768)     $ (8,897,737)       $9,177,825
                                                          ================= ================= ================= =================
</TABLE>

At September 30, 1999, equipment on operating leases consists of the following:

<TABLE>
<CAPTION>
                                           Balance                                                                  Balance
                                         December 31,        Acquisitions, Dispositions & Reclassifications      September 30,
                                             1998           1st Quarter       2nd Quarter     3rd Quarter             1999
                                             ----           -----------       -----------     -----------             ----
<S>                                          <C>                <C>               <C>             <C>                 <C>
Printing                                     $ 4,393,249                                            $1,160,500        $5,553,749
Transportation                                 3,005,244        $ (795,725)       $ (761,633)        2,025,313         3,473,199
Construction equipment                         4,985,297                                            (2,534,118)        2,451,179
Ground support equipment                       1,127,988                 -                 -                 -         1,127,988
Manufacturing                                  1,587,670                 -                 -          (991,870)          595,800
Materials handling                               786,160                 -                 -          (522,089)          264,071
Data processing                                  419,412                 -                 -          (394,290)           25,122
Other                                          2,130,174                 -           (61,152)       (2,069,022)                -
Corporate aircraft                             1,328,569                 -                 -        (1,328,569)                -
Office equipment                                 216,080          (152,104)          (63,976)                                  -
                                      ------------------- ----------------- ----------------- ----------------- -----------------
                                              19,979,843          (947,829)         (886,761)       (4,654,145)       13,491,108
Accumulated depreciation                     (10,564,196)          160,989           163,233         2,085,492        (8,154,482)
                                      ------------------- ----------------- ----------------- ----------------- -----------------
                                             $ 9,415,647        $ (786,840)       $ (723,528)     $ (2,568,653)       $5,336,626
                                      =================== ================= ================= ================= =================
</TABLE>

All of the equipment on operating  leases was acquired during 1992,  1993, 1994,
1995 and 1996.

<PAGE>

                      ATEL CASH DISTRIBUTION FUND IV, L.P.

                          NOTES TO FINANCIAL STATEMENTS

                           SEPTEMBER 30, 1999 AND 1998
                                   (Unaudited)


2. Investment in lease assets (continued):

At September 30, 1999,  the aggregate  amounts of future  minimum lease payments
are as follows:

<TABLE>
<CAPTION>
                                                               Direct
                                           Operating         Financing           Total
<S>                                          <C>                <C>               <C>
 Three months ending December 31, 1999         $ 504,408         $ 427,188         $ 931,596
         Year ending December 31, 2000         1,655,807         1,437,289         3,093,096
                                  2001           995,166           921,709         1,916,875
                                  2002           845,013           483,677         1,328,690
                                  2003           613,561           396,720         1,010,281
                            Thereafter                 -           176,700           176,700
                                        ----------------- ----------------- -----------------
                                             $ 4,613,955        $3,843,283        $8,457,238
                                        ================= ================= =================
</TABLE>


4.  Non-recourse debt:

Notes payable to financial  institutions are due in varying  monthly,  quarterly
and semi-annual installments of principal and interest. The notes are secured by
assignments  of lease  payments and pledges of the assets  which were  purchased
with the proceeds of the particular notes. Interest rates on the notes vary from
6.69% to 8.95%.

Future minimum principal  payments of non-recourse debt as of September 30, 1999
are as follows:

<TABLE>
<CAPTION>
                                         Principal          Interest           Total
<S>                                        <C>                 <C>              <C>
Three months ending December 31, 1999        $ 431,670          $ 57,240         $ 488,910
        Year ending December 31, 2000        1,535,205           151,656         1,686,861
                                 2001          697,282            56,062           753,344
                                 2002          250,450            19,870           270,320
                                 2003          106,480             2,861           109,341
                                      ----------------- ----------------- -----------------
                                           $ 3,021,087         $ 287,689        $3,308,776
                                      ================= ================= =================
</TABLE>


5.  Related party transactions:

The terms of the  Agreement  of Limited  Partnership  provide  that the  General
Partners  and/or  Affiliates are entitled to receive  certain fees for equipment
acquisition, management and resale and for management of the Partnership.

The  General   Partners  and/or   Affiliates   earned  the  following  fees  and
commissions, pursuant to the Agreement of Limited Partnership as follows:

                                                 1999              1998
                                                 ----              ----
Incentive and equipment management fees           $ 525,619         $ 366,309
Administrative cost reimbursements                  168,992           189,635
                                           ----------------- -----------------
                                                  $ 694,611         $ 555,944
                                           ================= =================

<PAGE>

                      ATEL CASH DISTRIBUTION FUND IV, L.P.

                          NOTES TO FINANCIAL STATEMENTS

                           SEPTEMBER 30, 1999 AND 1998
                                   (Unaudited)


6. Partner's capital:

The Fund is  authorized  to issue up to 7,500,000  Units of Limited  Partnership
interest in addition to the Initial Limited Partners.

The Fund's Net Profits,  Net Losses and Tax Credits are to be  allocated  99% to
the Limited Partners and 1% to the General Partner.

As more  fully  described  in the  Partnership  Agreement,  available  Cash from
Operations and Cash from Sales or Refinancing shall be distributed as follows:

     First, 5% of  Distributions  of Cash from Operations to the General Partner
as Incentive Management Fees.

     Second, the balance to the Limited Partners until the Limited Partners have
          received aggregate  Distributions,  as defined,  in an amount equal to
          their  Original  Invested  Capital,  as defined,  plus a 10% per annum
          cumulative  (compounded  daily)  return  on  their  Adjusted  Invested
          Capital, as defined.

     Third,the General  Partner will receive as Incentive  Management  Fees, the
           following: (A) 10% of remaining Cash from Operations, as defined, (B)
           15% of remaining Cash from Sales or Refinancing, as defined.

     Fourth, the balance to the Limited Partners.


7.  Line of credit:

The  Partnership  participates  with the  General  Partner  and  certain  of its
Affiliates in a $95,000,000 revolving credit agreement with a group of financial
institutions  which  expires on January  28,  2000.  The  agreement  includes an
acquisition  facility to be used by the  Partnership  and  Affiliates to provide
bridge financing for assets on leases.  Draws on the acquisition facility by any
individual  borrower  are  secured  only by that  borrower's  assets,  including
equipment and related leases.

At September  30, 1999,  the  Partnership  had no  borrowings  under the line of
credit.

The credit agreement  includes certain  financial  covenants  applicable to each
borrower.  The  Partnership was in compliance with its covenants as of September
30, 1999.



<PAGE>

Item 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
          AND RESULTS OF OPERATIONS

Capital Resources and Liquidity

The Partnership's  primary source of liquidity during 1999 was proceeds from the
sales of lease assets. The liquidity of the Partnership will vary in the future,
increasing to the extent cash flows from leases exceed expenses,  and decreasing
as lease assets are acquired,  as distributions are made to the Limited Partners
and to the extent expenses exceed cash flows from leases.

The Partnership currently has available adequate reserves to meet contingencies,
but in the event those  reserves were found to be  inadequate,  the  Partnership
would  likely be in a position to borrow  against its current  portfolio to meet
such  requirements.  The General  Partner  envisions  no such  requirements  for
operating purposes.

As  of  September  30,  1999,  the   Partnership   had  borrowed   approximately
$38,342,000,  with a  remaining  unpaid  balance  of  approximately  $3,021,000.
Borrowings are to be non-recourse to the Partnership, that is, the only recourse
of the lender  will be to the  equipment  or  corresponding  lease  acquired  or
secured with the loan proceeds.  The General  Partner does not expect that there
will be additional borrowings in the future.

The  Partnership  participates  with the  General  Partner  and  certain  of its
affiliates  in  a  $95,000,000   revolving  line  of  credit  with  a  financial
institution. The line of credit expires on January 28, 2000.

No  commitments  of capital  have been or are expected to be made other than for
the acquisition of additional equipment. As of September 30, 1999, there were no
such commitments.

If  inflation  in the general  economy  becomes  significant,  it may affect the
Partnership  inasmuch as the residual  (resale) values and rates on re-leases of
the  Partnership's  leased  assets may  increase as the costs of similar  assets
increase.  However,  the  Partnership's  revenues from existing leases would not
increase,  as such rates are generally fixed for the terms of the leases without
adjustment for inflation.

If interest rates increase  significantly,  the lease rates that the Partnership
can obtain on future  leases will be expected to increase as the cost of capital
is a significant  factor in the pricing of lease  financing.  Leases  already in
place, for the most part, would not be affected by changes in interest rates.

1999 vs. 1998:
Nine months:

During the first nine months of 1999, the primary source of operating cash flows
was  operating  lease  revenues.  Total  lease  revenues  decreased  by $960,604
compared to 1998.

In 1999, the most  significant  source cash flows from investing  activities was
the  proceeds  from the  sales of  assets.  Proceeds  from  asset  sales are not
comparable  to prior  periods nor are they  expected to be  comparable to future
periods.  In 1998, the most important  source of cash from investing  activities
was rents from direct financing leases.
Such rents decreased by $83,441 compare to 1998.

There were no sources of cash from financing activities in 1999 or in 1998. Cash
used to repay  non-recourse debt has decreased due to scheduled debt reductions.
Distributions to Limited Partners have not changed significantly.




<PAGE>

Three months:

The  primary  source of cash from  operations  for the third  quarter  was lease
rents.  Lease rents have decreased from the prior year due to asset sales during
the preceding twelve months.

The investing  sources of cash in 1999 and 1998 were the same as noted above for
the nine month period.

There  were no  sources of cash from  financing  activities  in 1999 or in 1998.
Repayments  of debt  decreased  for the same reasons as noted above for the nine
month period. Distributions to the limited partners were unchanged.


Results of Operations

In 1999,  operations  resulted  in net income of  $5,919,335  for the nine month
period and $534,437 for the three month  period.  Operations in 1998 resulted in
net income of  $1,180,317  for the nine month  period and $423,477 for the three
month period.

1999 vs. 1998:

Operating lease revenues and direct  financing lease revenues have decreased due
to sales of leased assets during the last twelve months. Revenues from leveraged
leases  decreased  as a  result  of the  sale of the  remaining  assets  on such
leveraged  leases in the second quarter of 1999.  Gains on sales of lease assets
increased  significantly and resulted largely due to the sale of leveraged lease
assets that had been on lease to Liquid Carbonics.

Depreciation  expense is  directly  related to the  amounts of  operating  lease
assets  and has  decreased  from 1998 to 1999 as a result of sales of  operating
lease assets over the last year.  Management  fees are related to the amounts of
lease revenues and distributions to Limited Partners.  As assets have been sold,
lease revenues have decreased and as a result,  equipment  management  fees have
also  decreased.  This was offset by an increase in  incentive  management  fees
(which are related to the  distributions  of operating cash flows to the limited
partners).  As a  result  of  reductions  in t  outstanding  non-recourse  debt,
interest expense has decreased compared to 1998.



<PAGE>

                            PART II OTHER INFORMATION

Item 1.                      LEGAL PROCEEDINGS.

                               Inapplicable.

Item 2.                      CHANGES IN SECURITIES.

                               Inapplicable.

Item 3.                      DEFAULTS UPON SENIOR SECURITIES.

                               Inapplicable.

Item 4.                      SUBMISSION OF MATTERS TO A VOTE OF SECURITY
                             HOLDERS.

                               Inapplicable.

Item 5.                      OTHER INFORMATION.

                               Inapplicable.

Item 6.                      EXHIBITS AND REPORTS ON FORM 8-K.

                          (a)Documents filed as a part of this report
                          1.   Financial  Statements  Included in Part I of this
                               report:

                               Balance  Sheets,  September 30, 1999 and December
31, 1998.

                               Income  statements  for the nine and three  month
                               periods ended September 30, 1999 and 1998.

                               Statement of changes in partners'  equity for the
                               nine month period ended September 30, 1999.

                               Statements  of cash  flows for the nine and three
                               month periods ended September 30, 1999 and 1998.

                               Notes to the Financial Statements

                          2.   Financial Statement Schedules
                               All other  schedules for which  provision is made
                               in the applicable  accounting  regulations of the
                               Securities   and  Exchange   Commission  are  not
                               required  under the related  instructions  or are
                               inapplicable, and therefore have been omitted.

                          (b)  Report on Form 8-K
                               None

<PAGE>

                                   SIGNATURES


Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned thereunto duly authorized.

Date:
November 12, 1999

                      ATEL CASH DISTRIBUTION FUND IV, L.P.
                                  (Registrant)



                                  By: ATEL Financial Corporation
                                      General Partner of Registrant




                                  By:   /s/ A.  J.  BATT
                                      -----------------------------------
                                      A. J. Batt
                                      President and Chief Executive Officer
                                      of General Partner




                                  By:    /s/ DEAN L. CASH
                                      -----------------------------------
                                      Dean L. Cash
                                      Executive Vice President
                                      of General Partner




                                  By:   /s/ PARITOSH K. CHOKSI
                                      --------------------------------------
                                      Paritosh K. Choksi
                                      Principal financial officer of
                                      registrant




                                  By:   /s/ DONALD E.  CARPENTER
                                      --------------------------------------
                                      Donald E. Carpenter
                                      Principal accounting officer of
                                      registrant